Blowfish News - Keeping you updated with developments in the financial world...
Date: 31st October 2024
Chancellor of the Exchequer, Rachel Reeves, delivered the Labour government’s first Budget on 30 October with a promise to “restore economic stability” and “invest, invest, invest” to promote growth. In her statement, she outlined a number of new tax and spending measures that she said would create “an economy that is growing, creating wealth and opportunity for all.” In total, the Budget will see taxes rise by £40bn.
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Date: 4th October 2024
UK economic growth forecast upgraded - An updated forecast published last month by the Organisation for Economic Co-operation and Development (OECD) suggests the UK will be the joint-second fastest growing economy among the G7 nations this year.
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Date: 28th June 2024
Financial wellbeing has many facets - According to research, 81% of the UK’s wealthiest individuals are ‘stressed’ about their finances, suggesting financial wellbeing is about more than just the totality of your wealth. So, virtually everyone has concerns about what their financial future will look like.
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Date: 9th May 2024
UK economic recovery gains momentum - Official statistics published last month showed the UK economy returned to growth in the first two months of 2024, while more recent survey data suggests the recovery from last year's shallow recession continues to gather momentum.
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Date: 28th March 2024
What could this election year have in store for investors? If elections have consequences, as Barack Obama said, then 2024 looks like being a highly consequential year. Some 64 countries are due to hold elections this year (including the US, India, Brazil, Russia and very probably the UK), representing over half of the global population and, in economic terms, half of the world’s gross domestic product (GDP).
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Date: 7th March 2024
On 6th March, Chancellor of the Exchequer Jeremy Hunt delivered his Spring Budget to the House of Commons declaring it was “a Budget for long-term growth.” The fiscal update included a number of new policy measures, such as a widely-anticipated reduction in National Insurance, abolition of the non-dom tax status and new savings products designed to encourage more people to invest in UK assets. The Chancellor said his policies would help build a “high wage, high skill economy” and deliver “more investment, more jobs, better public services and lower taxes.”
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Date: 9th January 2024
Preparing portfolios for resilience in 2024 - The past few years have been challenging for investors with a series of unforeseen events and rising geopolitical tensions weighing heavily on global markets and, as a new year dawns, many issues remain unresolved. However, while such times are disconcerting for investors, the best way to achieve financial empowerment is by sticking to a sound strategic plan that optimises investment decisions and thereby tackles any potential issues head on.
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Date: 27th Novemeber 2023
On 22 November, Chancellor of the Exchequer Jeremy Hunt unveiled the government’s latest tax and spending plans saying “we back British business” announcing 110 growth measures which he said would boost business investment by £20bn a year. The Chancellor said the government had taken difficult decisions to put the economy “back on track” and claimed, “our plan for the British economy is working.” He also stressed that “the work is not done,” before outlining his package of measures which he said would cut business taxes, raise business investment and get more people into work.
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Date: 4th October 2023
Lifetime Allowance removal provides pension boost - Several months have passed since the Spring Budget, which, although not necessarily packed with good news stories, held one announcement that certainly did bring considerable cheer to higher rate taxpayers.
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Date: 7th July 2023
Signs of optimism in global economy - Although the global economy continues to face significant headwinds, statistics released during the first few months of this year have revealed unexpected signs of resilience. This has led economists to begin upgrading growth forecasts, while the World Economic Forum’s latest Chief Economists Outlook reported signs of ‘nascent optimism.’
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Date: 19th January 2023
No one could have anticipated how quickly events would unfold. It kicked off on a positive footing with a strengthening labour market and a growing global economy – gradually rebounding from the pandemic. It was then abruptly punctuated as geopolitical events took hold and dominated the rest of the year.
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Date: 23rd November 2022
On 17 November, Chancellor of the Exchequer Jeremy Hunt delivered his fiscal plan to “tackle the cost-ofliving crisis and rebuild our economy” stating that the government’s three priorities are “stability, growth and public services.”
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Date: 12th September 2022
Many parents give their children a flying financial start by saving or investing throughout their childhood. A new survey shows mothers typically take the lead in this area, while cash remains disproportionately popular.
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Date: 18th August 2022
With pension scam losses totalling millions each year, the Financial Conduct Authority (FCA) has reaffirmed its commitment to tackling scams in order to ensure the long-term health of the pensions market.
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Date: 29th July 2022
Retirement – that magical time when we can finally live our lifelong dreams. Increased life expectancy means that many of us can now expect a longer retirement, but this comes at a cost: the increasing prevalence of age-related cognitive decline, which could leave us vulnerable to costly financial errors.
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Date: 13th June 2022
Although the concept of ethical investing has been around for decades, interest in this sector has grown most rapidly in recent years traversed from niche products firmly into the mainstream. A key reason for this growth in popularity has been increased levels of consumer awareness across a range of social and environmental issues.
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Date: 12th May 2022
In recent years, the existence of a generational wealth gap has become all too clear. Thanks to a combination of large gains in property and stock markets over the past few decades, and generous final salary pension schemes, the baby boom generation now hold over half of all UK private wealth.
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Date: 13th April 2022
Updated info, figures and rates on... Tax on residential property purchase, Capital Gains Tax (CGT), Personal Allowances, Income Tax Rates, National Insurance, Pension Allowances, Tax-free savings for individuals, Corporation Tax, Inheritance Tax (IHT) and State Pension entitlements.
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Date: 16th March 2022
The emergence of COVID-19 brought a rapid end to the drawn-out recovery of major stock markets from the share price lows associated with the financial crisis a decade ago. When the scale of the threat to lives and livelihoods became apparent, market analysts and investors reassessed the global economic outlook and corporate prospects.
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Date: 20th May 2021
New parents are spending more than ever preparing for their baby’s arrival, research5 has revealed. According to the study, the average spend has increased more than 18% since 2012 and now stands at £1,645.
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Date: 11th May 2021
These days, homeownership is simply unaffordable for many young people. That’s why more and more aspiring buyers are deciding to co-buy a property with friends.
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Date: 5th May 2021
With house-hunting, offers, surveys, legal searches, new schools and other pre-move essentials to fit around everyday life, there’s not always a lot of time to consider how moving day itself will pan out.
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Date: 10th Mar 2021
When the property market reopened in mid-May last year (2020), pent-up demand, combined with many people reassessing their housing needs following lockdown, led to a surge in buyer demand.
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Date: 1st Mar 2021
Last January, as a new decade dawned, little did we know how the next 12 months would unfold. Now, as another year begins, there are growing shoots of optimism but, whatever the year does bring, a crucial lesson from 2020 is undoubtedly the need to prioritise financial wellbeing in order to ensure we can cope with life’s trials and tribulations.
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Date: 27th Feb 2021
Over the past year, our vulnerabilities have been starkly exposed by coronavirus, and the pandemic continues to present an array of challenges on many different levels.
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Date: 25th Feb 2021
The increased time spent at home has prompted many of us to reflect on our living space and contemplate moving. Yet the amount of space you can get for your hard-earned cash varies widely by region.
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Date: 17th Feb 2021
With the end of the tax year fast approaching (Monday 5 April), if you have cash that you don’t need to access in the short term and would like to use some or all of this year’s ISA allowance, don’t leave it too late and risk missing out on this opportunity to save tax-efficiently...
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